NZD/USD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The New Zealand Dollar has been tilted upwards versus its U.S. peer amid a slew of negative data from the world's biggest economy last week. The pair has been appreciating for the last 65 hours that has led to a formation of the channel up pattern on February 20. Despite being locked in a bullish tunnel, NZD/USD is not likely to prolong it winning streak as market participants bet on depreciation of the pair in more than 73% of cases. If this is the case, NZD/USD may drop to its 200-hour SMA at 0.8321 that if broken will open the way to the daily pivot point and the 50-hour SMA at 0.8312/01, near which the pair may struggle for some time.
© Dukascopy Bank SA
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